Canadian Solar Supplies Modules for Turkey's Largest Commercial PV Project:
540 kW Solar Power Plant at Izmir Airport Installed by Gehrlicher Merk Solar
PR Newswire
ONTARIO, Canada, Nov. 9, 2012
- First PV project under the new Turkish 500 kW law
ONTARIO, Canada, Nov. 9, 2012 /PRNewswire/ -- Canadian Solar Inc. (the
"Company" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest
solar companies, provided its CS6P-P solar modules for the first project under
the new Turkish solar energy legislation, YEK (Law on the utilization of
renewable energy resources for the purpose of generating electricity), for
solar power plants under 500 kW. The solar park has a capacity of 540 kW (450
kW on-grid and 90 kW off-grid), which marks a new milestone of solar power
production in Turkey, making it the largest solar power plant in the country.
This is the second project that Canadian Solar has realized in collaboration
with the EPC contractor Gehrlicher Merk Solar in Turkey, following a 96 kW
governmental PV project, which was finalized in September 2012.
The solar park at Izmir airport is the first photovoltaic project at an
airport in the region. It is comprised of a ground-mounted installation of 450
kW and 90 kW of off-grid systems on several radar stations; which makes it the
largest photovoltaic system currently installed in the country. It is also the
first solar power plant to be erected under the newly introduced Turkish
legislation to foster renewable energy plants under 500 kW. The regulation has
encouraged a pipeline of projects totaling 40-50 MW so far, and emphasizes the
interest of the government in the development of a renewable energy industry
in Turkey and to increase the diversification of energy resources. One core
advantages of the new legislation is the simplified official procedures where
no licensing is required.
"The project in Izmir is a very significant achievement for us. Therefore, we
relied again on the solar modules of Canadian Solar, as from past experience
we could count on a trusted partnership and the high quality of the
implemented products; characteristics which helped make this project a success
for all parties involved," said Omer Cihan Karahan, CEO of Gehrlicher Merk
Solar.
"We are proud to contribute our modules to this milestone project for the
Turkish solar energy sector and for us as a company in this emerging renewable
energy market. The new YEK will have a great impact on business development in
this industry and we are delighted to be a part of that," said Dr. Shawn Qu,
Chairman and CEO of Canadian Solar. "With this project as a reference, we
believe we will continue this success in other national and international
airport projects in the future."
The solar park at Izmir airport is the second joint project of Canadian Solar
and Gehrlicher Merk Solar in Turkey. With their first finalized solar power
plant – a governmental rooftop installation of 96 kW for the municipality of
Bursa – the solar company and the EPC contractor were nominated as the only
solar project for the Best Renewable Energy Collaboration Award at this year's
TIREC Awards in Turkey. Up until the completion of the 540 kW project in
Izmir, the 96 kW photovoltaic system in Bursa had been the largest Turkish
Governmental supported solar power plant.
About Canadian Solar
Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar
companies. As a leading vertically integrated provider of ingot, wafer, solar
cell, solar module and other solar applications, Canadian Solar designs,
manufactures and delivers solar products and solar system solutions for
on-grid and off-grid use to customers worldwide. With operations in North
America, Europe, Africa, Australia and Asia, Canadian Solar provides premium
quality, cost-effective and environmentally-friendly solar solutions to
support global, sustainable development. For more information, please visit
www.canadiansolar.com .
Safe Harbor / Forward-Looking Statements
Certain statements in this press release are forward-looking statements that
involve a number of risks and uncertainties that could cause actual results to
differ materially. These statements are made under the "Safe Harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. In
some cases, you can identify forward-looking statements by such terms as
"believes," "expects," "anticipates," "intends," "estimates," the negative of
these terms, or other comparable terminology. Factors that could cause actual
results to differ include the risks regarding the previously disclosed SEC
investigation as well as general business and economic conditions and the
state of the solar industry; governmental support for the deployment of solar
power; future available supplies of high-purity silicon; demand for end-use
products by consumers and inventory levels of such products in the supply
chain; changes in demand from significant customers; changes in demand from
major markets such as Germany; changes in customer order patterns; changes in
product mix; capacity utilization; level of competition; pricing pressure and
declines in average selling prices; delays in new product introduction;
continued success in technological innovations and delivery of products with
the features customers demand; shortage in supply of materials or capacity
requirements; availability of financing; exchange rate fluctuations;
litigation and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 27, 2012. Although the
Company believes that the expectations reflected in the forward looking
statements are reasonable, it cannot guarantee future results, level of
activity, performance, or achievements. You should not place undue reliance on
these forward-looking statements. All information provided in this press
release is as of today's date, unless otherwise stated, and Canadian Solar
undertakes no duty to update such information, except as required under
applicable law.
Website: http://www.canadiansolar.com
Contact: Investors: Ed Job, CFA, Director, Investor Relations of Canadian
Solar Inc., ir@canadiansolar.com; or David Pasquale of Global IR Partners,
+1-914-337-8801, csiq@globalirpartners.com; or Media Contact: Daniel Heck, Sr.
Director, EMEA Marketing, Canadian Solar Inc., daniel.heck@canadiansolar.com